I own a house in Cairns FNQ which I paid 280K for ~6 years ago. It is now worth around $380K It is tennanted at $380 a week. I owe $220K on this property. I am considering selling which will attract capital gains tax and mortgage break costs (I fixed at 8% for 5 years 2 years ago fearing a come back of the post boom IR of the 80's) I own two apartments in Adelaide that are worth around $250K each and owe around $185K each on these. I live in one and rent the other out at $300 a week. I plan to sell the house in Cairns and use the equity to pay off the apartment I live in to allow me to work less for a couple of years while studying. The apartment I live in was an investment property also returning $300 a week until I moved into it a year ago. I did live in the Cairns property for 18 months (will this give me any protection against capital gains tax?) Would welcome any advice.